7.4 billion dirhams bank financing for industry and business activities within two months

Media In – Abu Dhabi 3 April 2018 WAM
The value of financing provided by the banking sector to industry and business activities reached AED 7.4 billion during the first two months of this year, a growth of about 1% compared to the end of 2017, which raised the total accumulated balance of the funding received to 755 billion dirhams.
The total balance of financing for the activities of industry and business until the end of February, about 68% of the total credit provided by the banking sector to the private sector and about 51.5% total credit to all parties, including the government and the public sector ..
The amount of financing to the government amounted to 5 billion dirhams, with the total cumulative financing balance rising to about 180.4 billion dirhams, while the public sector decreased by 2 billion dirhams and the total balance closed at 170.5 billion dirhams.
The high level of financing of industrial and business activities by the banking system is a sign of continued activity in the industrial and business sectors by the beginning of 2018, which is a continuation of the growth recorded in 2017.
According to central bank statistics, the value of financing provided to the industrial and business sectors reached AED 2.8 billion in January compared with December 2017. The value of the financing during February reached 4.6 billion dirhams from the cumulative balance to 755 billion dirhams